BNP Paribas Financial Markets Boosts Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

BNP Paribas Financial Markets lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 67.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,239 shares of the company’s stock after buying an additional 10,603 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.08% of Nexstar Media Group worth $4,339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares during the period. Quest Partners LLC raised its holdings in shares of Nexstar Media Group by 661.4% in the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after buying an additional 7,533 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Nexstar Media Group by 5.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company’s stock worth $18,504,000 after purchasing an additional 6,101 shares during the period. GSA Capital Partners LLP increased its holdings in Nexstar Media Group by 211.2% during the 3rd quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock worth $1,024,000 after purchasing an additional 4,204 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Nexstar Media Group during the 2nd quarter worth about $570,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the director now directly owns 7,975 shares of the company’s stock, valued at $1,276,000. The trade was a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,423 shares of company stock valued at $7,916,739 in the last three months. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Trading Up 1.5 %

NASDAQ:NXST opened at $172.94 on Thursday. The stock has a 50-day simple moving average of $169.72 and a 200-day simple moving average of $167.06. The stock has a market cap of $5.36 billion, a P/E ratio of 10.00, a P/E/G ratio of 0.21 and a beta of 1.45. Nexstar Media Group, Inc. has a 1 year low of $141.38 and a 1 year high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.91%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NXST. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company cut their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Guggenheim cut their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.50.

Nexstar Media Group Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.